Nanchang to control price cap for new home decor
Developers must randomly select three evaluation agencies from the municipal database to evaluate the price of decorating new homes
Nanchang, the capital city of Jiangxi province in southeastern China, has launched a price control system for newly built residential homes featuring interior designs, setting the highest price for housing decor, The Paper reported.
According to the new rule, property developers are required to randomly select three evaluation agencies from the municipal database to evaluate the price of decorating their new homes. The average price after the evaluation will serve as the final set price of interior decor.
For real estate enterprises which decline to accept the latter price limit, the municipal government will stop issuing pre-sale permits to those developers and suspends their online contractual signing.
In August, the price of new homes in Nanchang increased by 1.8% from the previous month, ranking 16th in the country in terms of changes in residential sales prices.